Main Subject - Finance

The One-year challenge, The Oprah show found some people in debt and gave them each a personal wealth coach for a year. What do

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

you think happened? Well it was interesting, both families that I saw on the show made enough money to become wealthy. Both fami

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

lies spent a ton and were basically at a zero net worth. Meaning if they sold everything they had and paid off their debts they

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

would have zero left.

Well if you make a hundred thousand a year and have nothing left over at the end of it something is wrong

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

and those wealth coaches surely found it. These people were spending money fast. The faster they could get rid of it the better.

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

Family A’s wealth coach went in and told them straight, this is going to hurt. You are going to have to cut this out and sell

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

that and stop doing this and that. The family looked as if they were going to pass out when they heard it all. Luckily for them

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

here was a clue that if you are on the Oprah show for debt you must have a problem.

At the end of the year they had them back o

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

n the show and basically their message was, we did whatever the wealth coach said to do. It was hard but now we actually have a

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

financial future.

Family B’s situation started much the same, made good money and spent even more. At the end of the year they

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

here $37,000 more in debt! I nearly fell over, if you get a professional wealth coach and you actually go more in debt something

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

is wrong, very wrong.

It turns out they started doing what the coach said, which was basically sell everything and pay off the

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

18 credit cards. Get some money in the bank and curb your spending habits. What did they actually do? Half a year in the wife s

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

topped talking to the coach in her words, it was too invasive. Instead they went and spent a ton of money.

This is typical, the

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

start to get ahead and do everything to sabotage their life. There is an expression in wealth circles, you have to be worth a m

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

illion dollars before you can get a million dollars. This means if your self worth is not up to it you will do whatever it takes

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

to stay poor.

Think about it, do you think The Oprah show is looking for failures? No way, they want happy stories. Some famil

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

going backwards $37K is not a good story.

The moral of this story is be nice to yourself but be firm. You need to be nice beca

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

use getting out of debt and becoming wealthy is hard work. You need to be firm because half way does not get you out of debt but

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

likely in a whole lot more debt. Remember it may seem tough now but it will be a whole lot tougher if you don't get out of debt

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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